Oil headed for the biggest weekly loss since late June as traders positioned for a key OPEC+ decision on supply this weekend. Brent futures edged marginally higher on Friday, but were still trading below $65 a barrel and set for a weekly slump of about 8%. Prices have declined the past four days on the expectation OPEC+ will discuss fast-tracking more supply hikes. Meanwhile, efforts by the Trump administration to keep oil exports flowing from northern Iraq, as well as a US government shutdown, have added to the bearish sentiment. The OPEC+ meeting comes as...
US stocks rose on Tuesday, with the S&P 500 and Nasdaq up 0.5% and the Dow Jones Industrial Average up about 170 points as traders braced for a second Trump administration. On his first day in office, Trump took several steps to advance his agenda but refrained from imposing tariffs, as many had anticipated. However, he later indicated plans to impose 25% levies on Mexico and Canada while avoiding mentioning China. Traders are now turning their attention to growth prospects under the new administration and earnings reports from major companies. Charles Schwab (5%) and Prologis (1.6%)...
European stocks opened mixed on Tuesday, as traders digested the first executive orders signed by newly inaugurated U.S. President Donald Trump on Monday. The pan-European Stoxx 600 opened flat, while Germany's DAX fell slightly after hitting a record high. While the FTSE 100 opened 0.05% higher, Italy's FTSE MIB and CAC 40 were both in negative territory at 8:15 a.m. London time. Orsted shares plunged 15% after the company reported a fourth-quarter loss of 12.1 billion Danish kroner ($1.7 billion) related to a U.S. offshore wind turbine project. Meanwhile, European automakers Stellantis...
The Hang Seng rose 181 points, or 0.9%, to close at 20,107 on Tuesday (21/1), extending its bullish momentum for a sixth straight session and nearing its highest in nearly four weeks amid broad sector gains. Traders responded positively to Trump's inaugural speech on Monday, as it did not impose tariffs on China. Meanwhile, U.S. stock futures jumped after Trump signed several executive orders, including declaring a national energy emergency, which could lead to lower inflation and a Fed rate cut. Further gains were capped by caution ahead of December inflation data in Hong Kong later in the...
Japanese stocks rose after the close on Tuesday (1/21), as gains in the Shipbuilding, Machinery and Rubber sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 was up 0.30%. The best performers on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 4.02% or 22.00 points to trade at 569.00 at the close. Meanwhile, Lasertec Corp (TYO:6920) gained 2.86% or 430.00 points to close at 15,475.00 and Renesas Electronics Corp (TYO:6723) gained 2.21% or 45.00 points to 2,079.00 in late trade. The worst performers on the session were Kawasaki Heavy Industries,...
Hong Kong stocks rose 142 points, or 0.7%, to 20,067 on Tuesday (21/1), marking a sixth session of gains while holding at a three-week high. The bullish momentum emerged after Donald Trump did not target China in his inauguration speech on Monday, nor did he immediately impose previously threatened tariffs. Meanwhile, Chinese President Xi Jinping urged policymakers to adopt more proactive macroeconomic policies this year to maintain growth momentum. The property sector led the gains, with struggling Country Garden shares surging nearly 20% after resuming trading after a nine-month...
The Nikkei 225 index rose 0.5%, above 39,000, while the broader Topix index gained 0.35%, reaching 2,720 on Tuesday, extending gains from the previous session. The rally followed U.S. President Donald Trump's decision not to impose new tariffs on his first day in office, easing concerns for Japanese exporters. However, investors remained cautious ahead of the Bank of Japan's upcoming monetary policy decision this week, as BOJ officials have hinted at a potential interest rate hike. The move would raise Japan's short-term borrowing costs to 0.5%, the highest level since the 2008 global...
Asia-Pacific markets are expected to strengthen on Tuesday (21/1), as investors await further clarity on policies that US President Donald Trump will announce after his inauguration. In Japan, the benchmark Nikkei 225 index started the day up 0.52%, while the Topix rose 0.33%. Meanwhile, South Korea's Kospi started trading 0.97% higher, while the Kosdaq gained 0.62%. Australia's S&P/ASX 200 led gains in Asia, up 1.2%. Futures for Hong Kong's Hang Seng index were last trading at 20,278, indicating a stronger open compared with the HSI's close of 19,925.81. The index hit its highest...
Donald Trump has been inaugurated as the 47th president of the United States. The swearing-in ceremony was conducted by Chief Justice John Roberts. Alongside him, JD Vance took the oath of vice presidency, administered by Justice Brett Kavanaugh. In his inauguration speech, President Trump promised the beginning of a golden era for America. He is set to initiate a series of executive actions, as per incoming White House officials. These potentially include the commencement of a process to terminate birthright citizenship and the declaration of a national emergency on the US-Mexico border....
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....